Majesco saved from Nasdaq delisting -- for now
: Zumba Fitness
publisher Majesco needed to regain compliance with the Nasdaq market
by this week at the latest, if it wanted its stock to stay listed. The company didn't manage to do so -- however, it has been provided with an additional 180 days to comply.
Majesco's stock has been trading at a bid price of less than $1.00 for quite a while now, and as such the Nasdaq previously informed the company that it must boost its share price back over the $1.00 mark.
Yesterday was the deadline for doing so, and as of now, the company's share price sits at around $0.65. However, the Nasdaq said today that it has provided Majesco with a grace period, up until February 24, 2014, to boost its price. Gamasutra has contacted Majesco for comment.